United Kingdom GDP Annual Growth Rate 1956-2014 | Data | Chart | Calendar

The Gross Domestic Product (GDP) in the United Kingdom expanded 3.20 percent in the second quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in the United Kingdom averaged 2.46 Percent from 1956 until 2014, reaching an all time high of 9.80 Percent in the first quarter of 1973 and a record low of -5.80 Percent in the first quarter of 2009. GDP Annual Growth Rate in the United Kingdom is reported by the Office for National Statistics.

   
 
 

United Kingdom GDP Annual Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
3.20 2.90 9.80 -5.80 1956 - 2014 Percent Quarterly
From 1993 to 2007 the United Kingdom has reported an average annual rate of growth of 3.3 percent. Yet, since the recession in 2008 and 2009 the growth has been sluggish and in the last three years averaged meager 0.9 percent. This page provides - United Kingdom GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - United Kingdom GDP Annual Growth Rate - was last refreshed on Thursday, October 23, 2014.


UK Economy Advances 3.2% YoY in Q2


British GDP expanded 3.2 percent year-on-year in the second quarter of 2014, unrevised from the second estimate but up from a flash 3.1 percent. Gross fixed capital formation recorded the highest gain in more than eleven years.

Between Q2 2013 and Q2 2014 production output rose by 2.4 percent. All production industries contributed positively to this quarter on same quarter a year ago increase, with the exception of electricity, gas, steam and air conditioning which contracted by 6.6 percent.

On the expenditure side, household final consumption expenditure increased by 2.1 percent, government expenditure by 1.2 percent and gross fixed capital formation rose by 9.1 percent. The net trade balance has worsened slightly compared to Q2 2013.

In Q2 2014, GDP was estimated to have been 2.7 percent higher than the pre-economic downturn peak of Q1 2008, having first exceeded this peak in Q3 2013.

On a quarter-on-quarter seasonally adjusted basis, the GDP expanded 0.9 percent. 

ONS | Joana Taborda | joana.taborda@tradingeconomics.com
9/30/2014 1:51:12 PM


Recent Releases

UK GDP Growth Matches Estimates in Q2
The UK economy advanced 3.1 percent year-on-year in the second quarter of 2014, accelerating from a 3 percent expansion in the previous quarter, according to preliminary estimates. It is the highest growth rate since the last three months of 2007. Published on 2014-07-25

UK GDP Annual Growth Revised to 3% in Q1
The UK economy expanded 3 percent year-on-year in the first quarter of 2014, slightly down from a preliminary 3.1 percent estimate, as government spending and investment grew less than anticipated. Published on 2014-06-27


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-06-27 09:30 AM United Kingdom
GDP Growth Rate YoY Final
Q1 2014 3.0% 2.7% 3.1% 3.1%
2014-07-25 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q2 2014 3.1% 3.0% 3.1% 3.1%
2014-08-15 09:30 AM United Kingdom
GDP Growth Rate YoY - 2 Est
Q2 2014 3.2% 3.0% 3.1% 3.1%
2014-09-30 09:30 AM United Kingdom
GDP Growth Rate YoY Final
Q2 2014 3.2% 2.9% (R) 3.2% 3.2%
2014-10-24 09:30 AM United Kingdom
GDP Growth Rate YoY Prel
Q3 2014 3.2% 3% 3.39%


United Kingdom GDP Last Previous Highest Lowest Unit
GDP 2522.26 2461.77 2857.08 72.33 USD Billion [+]
GDP Growth Rate 0.90 0.70 5.00 -2.70 Percent [+]
GDP Annual Growth Rate 3.20 2.90 9.80 -5.80 Percent [+]
GDP Constant Prices 425437.00 421593.00 425437.00 102335.00 GBP Million [+]
Gross National Product 408480.00 401631.00 409331.00 4776.00 GBP Million [+]
GDP per capita 37955.11 37569.79 40230.96 13478.93 USD [+]
Gross Fixed Capital Formation 72529.00 71633.00 75836.00 13015.00 GBP Million [+]
GDP per capita PPP 35013.27 34657.81 37112.75 23542.10 USD [+]